Many types of socially responsible actions can be consistent with a firm's long-term profit resulting in some degree of _____ being earned by such behavior.
A)money
B)respect
C)goodwill
D)management expertise

Question

Quizplus · Accepted Answer

Goodwill is the intangible asset that represents the value of a company's strong reputation, brand, and positive relationships with stakeholders. Socially responsible actions can enhance a firm's reputation and relationships with stakeholders, thereby resulting in increased goodwill being earned. This, in turn, can lead to long-term profits as customers, employees, investors, and other stakeholders are more likely to support and remain loyal to a company that demonstrates a commitment to doing good.

Many Types of Socially Responsible Actions Can Be Consistent with a Firm's